D072 - Fundamentals for Success in Business Flashcards
Ethics
principles that guide a person’s behavior; reflects beliefs about what is right/wrong
Values
a person’s most formative principles which are formed early in life and tend to remain stable
Morals
sets of rules developed based on cultural norms
Organizational ethics
rules, principles, and standards in the context of business activities
Societal issues
issues relating to the world as a whole
Stakeholder issues
issues that affect customers, employees, suppliers, & community members
Internal policy issues
concerns internal company-employee relations such as pay and employee participation
Personal issues
concerns how people treat others in their organization
Corporate social responsibility (CSR)
philosophy in which a company voluntarily engages in actions that will benefit society at large
Greenwashing
when a company’s ethical commitments and statements run contrary to its actual practices
Internal transparency
an organization’s perceived quality of intentionally sharing information
Sarbanes-Oxley Act (SOX)
an act that mandates reporting transparency within organizations and makes it both illegal and unethical to be deceitful
Enlightened self-interest
when organizations are motivated to adopt CSR policies because they know that it can improve their financial well-being
Business Process Management (BPM)
management initiative to design work processes so that they align with strategic goals
Relationship Management
strategies that govern how an organization maintains relationships
Interpersonal
managerial function which focuses on relationship building & communicating w/ stakeholders
Informational
managerial function which focuses on gathering, analyzing, & disseminating information
Decisional
managerial function which is responsible for making decisions, allocating resources, & negotiating
Competing Values Framework (CVF)
model used to study organization culture
Clan
“Do things together” culture; flexible & internally-focused
Adhocracy
“Do things first” culture; flexible & externally-focused
Market
“Do things fast” culture; inflexible & externally-focused
Hierarchy
“Do things right” culture; inflexible & internally-focused
Attraction-selection-attrition (ASA)
theory that outlines how employees join and leave organizations
Passive
communication style which is hesitant and typically puts others before self
Aggressive
communication style which can be dismissive of others when trying to stand up for oneself
Assertive
communication style which is productive and expresses ideas while listening to others
Passive-aggressive
communication style which uses hidden messages to express needs, feelings, and ideas
Active listening
giving one’s full attention to a message with the intent to understand it
Emotional intelligence (EI)
ability to understand & manage emotions in oneself & in others
Emotional quotient (EQ)
measure of the level of a person’s EI
Moral identity
extent to which a person wants to see themself as ethical & caring
Self-awareness
EI principle of being attuned to your inner preferences, values, beliefs, & resources
Self-regulation
EI principle of controlling your thoughts & impulses
Motivation
EI principle of understanding the emotional tendencies which impact your ability to reach personal goals
Empathy
EI principle of being attuned to the emotional signals of others & being able to relate & respond appropriately
Locus of control
extent to which someone believes circumstances & responses are within their control
Considering
leadership approach which focuses on relationship behaviors such as communication & respect
Initiating
leadership approach which focuses on task behaviors such as planning & problem-solving
Rational persuasion
using facts, data, & rational arguments to influence others
Inspirational appeal
using values, emotions, & beliefs to influence others
Legitimate
base of power which comes from one’s organizational role or position
Reward
base of control which comes from one’s ability to grant rewards to others for good performance
Coercive
base of control which comes from one’s ability to punish others for noncompliance
Expert
base of control which comes from one’s knowledge, skills, and experience
Information
base of power which comes from having knowledge that others need or want
Referent
base of power which comes from being trusted & respected
Design thinking
Empathize > Define > Ideate > Prototype > Test > Implement
Autocratic
leadership style in which the manager makes all of the decisions
Participative
leadership style in which managers and workers share decision-making power
Laissez-faire
leadership style in which decisions and tasks are delegated to workers
Transactional leadership
uses extrinsic rewards to motivate employees because it assumes that they do not share the same goals as the organization
Transformational leadership
works to make the desires of employees match those of the organization’s leadership in order to increase motivation
